Worldcoin Alternative Coin
What is a Worldcoin?
The Worldcoin is an alternative cryptocurrency coin that was founded in 2013 and quickly became a popular choice among cryptocurrency enthusiasts because of the promises it made towards the community. The big boom didn't really come however and the Worldcoin has been losing ground lately compared to many of the newer and more improved alternative coins. It is build on the Bitcoin protocol and uses the scrypt algorithm towards mining and is completely open source so that everyone can modify the software. Just like most other cryptocurrencies it is completely anonymous and can be used to transfer between Worldcoin users within a matter of minutes, as they have developed a fast system to enable the blockchain to process the transfers faster.
The Worldcoin doesn't really stand out from the crowd in any way, besides having gotten a lot of negative media attention lately, due to them deleting their WIKI page and after it was proved that they pre-mined and insta-mined a large amount of coins prior to the release to the general public. You can use ASIC, GPU and CPU rigs to mine the coin and there will be a total of 265.420.800 coins going into circulation. Miners who use the ASIC and GPU rigs to mine, will have a major advantage over the CPU miners, as it allows them to mine a thousand time faster basically.
The Worldcoin is currently the 12th largest cryptocurrency based on the market capitalization, having a total market value of around $13.3 million. There is currently 41.5 million Worldcoins in circulation, each with a value of around $0.30-$0.35 per coin, which is in the medium value of alternative cryptocurrencies. Only 20% of the total coins has been mined so far, so there is still plenty of opportunities to mine the coin and sell them for a profit. Despite having lost some respect in the cryptocurrency community, it is still a heavily traded coin due to its volatile nature, which is ideal for investors. You can buy and sell Worldcoins from different cryptocurrency exchanges and they can be bought in exchange for Bitcoins and Litecoins as well as you can sell them in exchange for them.
What Can I Use the Worldcoin For?
Currently there is no usage for the Worldcoin except from in terms of investing in the coin. There are no merchants accepting Worldcoin as a payment method and there's not any gambling sites accepting it either. So if you are looking to buy Worldcoins, you should only do it if you are prepared to keep them as an investment and nothing else, as they most likely will not have any other purpose at any point.